Section 12.70.990. Definitions.

In this chapter and in AS 08.87   
		(1) "appraisal experience" includes fee and staff appraisals, ad valorem tax appraisals, appraisal reviews, appraisal analysis, real estate counseling, and feasibility analysis and study, all of which must have been performed in accordance with Standard 1 and Standard 2 of the Uniform Standards of Professional Appraisal Practices described in 12 AAC 70.900;  
		(2) "board" means the Board of Certified Real Estate Appraisers;  
		(3) "certified real estate appraiser" means a real estate appraiser who is certified in Alaska under AS 08.87; it does not include persons certified by another licensing jurisdiction or organization;  
		(4) "department" means the Department of Commerce, Community, and Economic Development;  
		(5) "holds out as a certified real estate appraiser in any way" includes anyone who performs appraisal services on real estate located in Alaska;  
		(6) "transaction value" means the amount of the federally-related transaction and is not necessarily the value of the property being appraised;  
		(7) "institutional real estate appraiser" means a real estate appraiser employed full time by a financial institution with an office in the state subject to the limitations set out in AS 08.87.110(e) - (g);  
		(8) "complete application" means an application that includes all documentation and fees required for certification in this chapter;  
		(9) "distance education" means an educational process where a geographical separation exists between the provider and student;  
		(10) "CLEP" means the College-Level Examination Program;  
		(11) "USPAP" means the Uniform Standards of Professional Appraisal Practice, developed by the Appraisal Foundation.  

Authorities

08.87.020;44.62.125

Notes

Authority

AS 08.87.020 Editor's note: As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development. ________________________

History

Eff. 7/16/92, Register 123; am 4/15/94, Register 130; am 12/13/94, Register 133; am 6/5/98, Register 146; am 5/24/2007, Register 182; am 9/14/2012, Register 203